| The real estate jitters. Rightly so. If you're new to | | | | has had this allure for investors - local and foreign - |
| real estate or if this is the first time you're investing | | | | for a long time, so your agent wants to make sure |
| in a Sarasota home - be it a single family detached | | | | your offer stands out. Only an experienced agent |
| home or a condo in a high-rise, the standard advice | | | | can do this for you. |
| applies: engage the services of a real estate agent | | | | Also, investing in Sarasota means that you need an |
| who knows the Sarasota area well. Some investors | | | | agent who can provide details not only on your |
| like to go it alone, but if they've never dabbled in real | | | | investment and related acquisition services but also |
| estate before, they could be missing out on excellent | | | | provide guidance on property management and |
| deals that only a real estate agent is aware of. | | | | leasing services for your home or condo. |
| Investing Tips | | | | Sarasota Real Estate Investment Association (REIA) |
| If you're new to investing in Sarasota real estate, the | | | | As an investor, you may also want to look into the |
| # 1 rule then is to find an agent with whom you can | | | | Sarasota Real Estate Investment Association. It |
| work comfortably. What kind of agent should you | | | | operates as an independent entity and does not |
| look for? | | | | offer any advice relating to legal issues, taxation, |
| Tip # 1: someone who will, right from the start, | | | | economic or investments. If your real estate agent is |
| describe service coverage and fees to the last detail. | | | | a member in good standing, he or she may be able |
| Is the real agent committed to giving you | | | | to introduce you to other investors or help you get |
| comprehensive information on all good areas of | | | | into a network. If you're thinking of investing in |
| Sarasota? How much will auxiliary services cost? | | | | several Sarasota properties, this is something you'd |
| Tip # 2: someone who can answer your questions | | | | probably consider at a later time. |
| about zoning, home prices in multiple categories, and | | | | The REIA is composed of investors, lenders, title |
| someone with all the key information that will make | | | | company lawyers and realtors who attend meetings |
| your investing experience hassle-free: city services, | | | | regularly, exchanging ideas and information. Once you |
| health and medical centers, schools, recreational | | | | become a member, you can actively buy and sell |
| facilities, and other such information that is critical to | | | | property during meetings. Guests (non-members) are |
| your final decision. | | | | allowed one visit. |
| Tip # 3: someone who offers to do a CMA | | | | Thought of Foreclosures as an Option? |
| (Competitive Market Analysis) before you make a | | | | Many Sarasota home options are open to investors, |
| firm offer on your selected Sarasota real estate. | | | | one of which are foreclosures. If you have expert |
| Normally the CMA is a document that realtors | | | | advice and the right information, you could get |
| prepare for sellers only, but if they can extend that | | | | significant price reductions from foreclosed homes. |
| courtesy to you as a buyer, then you're in the right | | | | Again, if you've never invested in a real estate |
| direction. Since you are the investor in Sarasota real | | | | foreclosure before, a Sarasota real estate specialist |
| estate, the CMA can prove to be an indispensable | | | | will be able to help you. Avoid the common pitfalls |
| tool. | | | | committed by newbies. Perhaps a pre-closure instead |
| Tip # 4: someone who sends you e-mails regularly | | | | of a foreclosure might be the better alternative but |
| and returns your phone calls so that you don't get | | | | only your realtor can help you evaluate the pros and |
| the feeling that you've been abandoned because | | | | cons. |
| there's another investor with more dollars to shell out | | | | Losing a home because an owner cannot fulfill his |
| and who's taking up a lot of the real estate agent's | | | | mortgage obligations is a harrowing ordeal. As a seller |
| time and energies. | | | | of a foreclosed property, you will want to be |
| Tip # 5: someone who will be there to hold your | | | | sensitive to this fact. Approach the property and |
| hand every step of the way. For example, when | | | | owner in a non-aggressive manner. Your Sarasota |
| you're ready to make a firm offer on a particular | | | | real estate agent will be able to help you. They have |
| Sarasota home, the real estate agent should express | | | | people skills that have been honed for many years |
| the wish to be present so that he or she can do | | | | and they will be the first to tell you that foreclosures |
| more "marketing" for you. Sellers of Sarasota real | | | | - while they can offer the investor great savings - |
| estate don't run short of offers because Sarasota | | | | can be a bitter pill to swallow for homeowners. |